TrueMark Investments LLC Sells 66,333 Shares of Fidus Investment Corporation (NASDAQ:FDUS)

TrueMark Investments LLC reduced its holdings in shares of Fidus Investment Corporation (NASDAQ:FDUS - Free Report) by 85.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,462 shares of the asset manager's stock after selling 66,333 shares during the period. TrueMark Investments LLC's holdings in Fidus Investment were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FDUS. Raymond James Financial Inc. purchased a new stake in Fidus Investment during the 4th quarter valued at about $20,539,000. Cetera Investment Advisers lifted its stake in shares of Fidus Investment by 18.8% in the 4th quarter. Cetera Investment Advisers now owns 303,421 shares of the asset manager's stock worth $6,378,000 after purchasing an additional 48,034 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Fidus Investment by 20.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 300,799 shares of the asset manager's stock worth $6,323,000 after acquiring an additional 50,447 shares during the last quarter. Columbus Macro LLC lifted its position in Fidus Investment by 7.8% during the first quarter. Columbus Macro LLC now owns 287,622 shares of the asset manager's stock valued at $5,865,000 after purchasing an additional 20,727 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Fidus Investment in the fourth quarter worth approximately $4,072,000. Institutional investors own 28.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FDUS. B. Riley began coverage on shares of Fidus Investment in a research report on Tuesday, May 13th. They set a "buy" rating and a $22.00 price objective on the stock. LADENBURG THALM/SH SH upgraded Fidus Investment from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Fidus Investment from $21.00 to $20.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th.

Fidus Investment Trading Up 0.4%

Shares of NASDAQ FDUS traded up $0.08 during midday trading on Friday, hitting $19.89. The company's stock had a trading volume of 173,802 shares, compared to its average volume of 209,170. Fidus Investment Corporation has a 12-month low of $16.70 and a 12-month high of $23.55. The firm has a market cap of $690.78 million, a P/E ratio of 8.50 and a beta of 0.93. The business's 50 day moving average is $19.73 and its two-hundred day moving average is $20.70.

Fidus Investment (NASDAQ:FDUS - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. Fidus Investment had a return on equity of 11.48% and a net margin of 52.59%. The business had revenue of $36.50 million for the quarter, compared to analyst estimates of $35.61 million. On average, analysts predict that Fidus Investment Corporation will post 2.28 earnings per share for the current fiscal year.

Fidus Investment Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Friday, June 13th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 10.86%. The ex-dividend date of this dividend was Friday, June 13th. Fidus Investment's dividend payout ratio is presently 73.50%.

About Fidus Investment

Fidus Investment Corporation is a business development company. It specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.